The USA’s largest provider of factoring services, CIT Commercial Services, have today announced an alliance with TradeOut, a global internet marketplace for business surpluses such as excess inventory and idle assets.
Go to www.capital.com and you will find an on-line business finance marketplace in which premier financing sources compete to provide services to small and medium-sized companies.
The Heritage Bank of Commerce have today announced that Sherry Crowley has been made Vice President and Business Development Officer of its Heritage Capital Group, the Bank’s accounts receivable financing and factoring division.
The US’s largest provider of factoring services, CIT Commercial Services, has announced that it will form a strategic alliance with Cyber Merchants Exchange.
The Finova Group has today announced that it has signed an agreement to sell its commercial services business (which provides factoring and accounts receivable management services) to GMAC Commercial Credit.
The Federal Reserve’s latest survey on regional economic conditions indicates that the rate of growth in the US has slowed down from its earlier pace in the year.
US venture capital financing has slowed slightly in the second quarter, but still remains at record levels of about US$1bn per week.
A new rule is proposed by the US Securities and Exchange Commission to stop companies giving favoured analysts and investors advance news of important financial information.
There have been unprecedented numbers of mergers and acquisitions in the US factoring industry in the last 12 months, with CIT buying two smaller factors and GMAC's purchase of the Bank of New York.
Consolidation among companies that provide finance for small businesses is making it harder for companies to get cash, reports the Wall Street Journal.
